The Dearborn-based automaker today unveiled the 2015 Mustang 50 Year Limited Edition, which is based on the 2015 Mustang GT fastback with a 5.0-liter V8 engine.

"Over the last 50 years, the passion has never faded,"said Ford Chief Operating Officer Mark Fields during the vehicle's unveiling. "Mustang has literally become a cultural icon."

The limited-edition vehicle features anniversary badging, individual serial number plates, chrome highlights, louvered rear quarter-windows, cashmere-stitched, leather-wrapped steering wheel and other throwback features and design tributes. The only options for the 50 Year Limited Edition are the choice of two exclusive colors – Wimbledon White, like Mustang serial No. 0001 that was first sold to Capt. Stanley Tucker in April 1964, or Kona Blue – and a six-speed manual or automatic transmission.

Ford revealed the first Mustang to the public at the 1964 New York World's Fair on April 17.

The limited-edition vehicle will be powered by an upgraded 5.0-liter V8 engine delivering more than 420 horsepower and 390 lb.-ft. of torque. Every 50 Year Limited Edition also will be equipped with the Mustang GT performance pack that includes massive six-piston Brembo front brakes and 19-inch alloy wheels with high-performance Y-speed-rated Pirelli P-Zero summer tires.

"I've been waiting for this day for a long time," said Ford executive chairman Bill Ford, who drove out in the vehicle.

Ford will only produce 1,964 of the 50th anniversary editions. Ford did not announce a price for the 50 Year Limited Edition, which will be available starting this fall.